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• <br />• <br />City of Lino Lakes, Minnesota <br />Section L Estimated Sources of Revenue <br />Tax increment revenue <br />Interest on invested funds <br />Bond proceeds <br />Special assessments <br />Rent/lease revenue <br />Grants <br />Other <br />Subtotal <br />Transfers in <br />Total <br />2,409,000 <br />50,000 <br />1,785,000 <br />0 <br />0 <br />0 <br />0 <br />4,244, 000 <br />The Authority anticipates providing financial assistance to the proposed development through <br />the use of a pay -as- you -go technique. As tax increments are collected from the TIF District in <br />future years, a portion of these taxes will be distributed to the developer /owner as <br />reimbursement for public costs incurred (see Section K) <br />The Authority reserves the right to finance any or all public costs of the TIF District using pay - <br />as- you -go assistance, internal funding, general obligation or revenue debt, or any other <br />financing mechanism authorized by law. The Authority also reserves the right to use other <br />sources of revenue legally applicable to the Project Area to pay for such costs including, but not <br />limited to, special assessments, utility revenues, federal or state funds, and investment income. <br />Section M Estimated Amount of Bonded Indebtedness <br />The Authority may issue bonds or pay as you go notes or interfund loans in an original principal <br />amount not to exceed $1,785,000. <br />Section N Original Net Tax Capacity <br />The County Auditor shall certify the original net tax capacity of the TIF District. This value will <br />be equal to the total net tax capacity of all property in the TIF District as certified by the State <br />Commissioner of Revenue. For districts certified between January 1 and June 30, inclusive, <br />this value is based on the previous assessment year. For districts certified between July 1 and <br />December 31, inclusive, this value is based on the current assessment year. <br />The Estimated Market Value of all property within the TIF District as of January 2, 2003, for <br />taxes payable in 2004, is $885,000. Upon establishment of the TIF District, and subsequent <br />reclassification of property, it is estimated that the original net tax capacity of the TIF District will <br />be approximately $16,950. <br />Each year the County Auditor shall certify the amount that the original net tax capacity has <br />increased or decreased as a result of: <br />(1) changes in the tax - exempt status of property; <br />(2) reductions or enlargements of the geographic area of the TIF District; <br />SPRINGSTED <br />Page 7 <br />